Exponent Private Equity has reached the final close of its second fund, Exponent Private Equity Partners II, LP, with commitments of £805m. This fund doubles the amount raised in the first fund in 2004. Exponent will continue to focus on investing in larger, more complex mid-market buyouts of UK companies and can commit up to £200m in any one transaction. Investors in the £805m vehicle included funds managed by Pathway, Pantheon Ventures, Danske Private Equity, MassPRIM, OMERS Capital Partners, NYL Capital Partners and Bank of Scotland.
Deal is Recover's 23rd acquisition since it was established six years ago, and the third since being acquired by EQT
Gimv formed the climate control business in 2016 by merging Itho Daalderop and Klimaatgarant
Corporate venture arm Shell Ventures leads the round for the IoT energy systems software platform
GP invests in the company via Wisequity V, which closed on its €260m hard-cap in July 2019